Bazaarvoice, a leading consumer review website, has announced the finalization of the divestiture of rival PowerReviews, a company it acquired and was subsequently forced to sell after a lawsuit initiated by the US Department of Justice.
Reports say Bazaarvoice has finalized the deal to sell PowerReviews to Wavetable Labs for $30 million.
The DOJ and Bazaarvoice settled their dispute regarding the 2012 acquisition with Bazaarvoice agreeing to sell the assets to Wavetable, but the deal had not been finalized until now.
In a statement, Bazaarvoice CEO Gene Austin said that once the merger is closed “we will be able to put the antitrust litigation behind us and turn our full attention to the large market opportunity ahead of us.”
The DOJ still has to approve of the divestiture plans.
Full content: Bloomberg
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